Linklaters advised The Siam Commercial Bank Pcl (SCB) on its acquisition of 100% of the charter capital of Home Credit Vietnam Finance Company Limited (Home Credit Vietnam), the consumer finance business of the Home Credit N.V. (Home Credit Group) in Vietnam for a consideration of approximately VND 20,973bn (approximately US$849m).
Since its launch in 2008, Home Credit Vietnam is one of the leading players in the country’s fast growing consumer finance market with a significant market share.
Linklaters advised on various aspects of this significant transaction from the bidding process to finalisation and signing of various legal documentation, including Thai regulatory considerations and liaising with a Vietnamese counsel on Vietnamese legal issues.
The Linklaters cross-practice team was led by Bangkok-based partner Sutthipong Koohasaneh and managing associate Issariya Vimonrat, with support from partner and Chairman of Global Corporate Practice Matthew Middleditch. TMT counsel Albert Yuen and managing associate Yang Fan provided specialist support on the transaction, including negotiations of transitional services agreements and IP-related documents.
Partner Sutthipong Koohasaneh commented:
“We were grateful to have had the opportunity to advise SCB on this complex cross-border M&A transaction, bolstering their presence in the high-growth Vietnamese market. We are delighted that our team of experienced and commercial-minded lawyers have helped our client navigate complex legal and regulatory compliance matters in Thailand and Vietnam in order to meet their strategic objectives. Congratulations to all parties involved and we look forward to continuing to support SCBX Group on future opportunities.”
The transaction is expected to be completed by the first half of 2025, subject to approvals from the relevant authorities.
